BRIEF-Pilot Gold enters exploration project option agreement with Logan Resources

Thu Jul 7, 2016 1:17pm EDT
 
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July 7 (Reuters) - Pilot Gold Inc :

* Pilot Gold enters exploration project option agreement with Logan Resources

* Before closing of deal, will complete non-brokered private placement in order to fund initial exploration, holding and development costs

* Signed option agreement with logan resources under which logan may earn up to 80 pct interest in up to 4 of its 9 great basin properties

* Logan may earn an initial 51 pct interest in 4 of 9 properties

* Logan may earn an additional 19 percent interest in 4 selected properties by incurring an additional US$2 million in exploration expenditures Source text for Eikon: Further company coverage: